The new entity will be the second largest bank in the country after State Bank of India (SBI) with a total business volume of Rs 18 lakh crore.
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State Bank of India (SBI) on Friday announced a reduction in its MCLR or marginal cost of funding-based lending rates by 5 basis points across tenors, and a cut in its fixed deposit interest rates. That marked the ninth cut in the MCLR so far in the current fiscal year. The bank said the new rates for home loans and fixed deposits will take effect ...
State Bank of India (SBI) pays interest rates to the tune of 4.5-6.6 per cent to customers on retail fixed deposits (FDs). SBI - the country's largest bank by assets - currently offers eight maturity options for fixed deposits up to Rs 2 crore.
Punjab National Bank (PNB) said that it provided Rs 4,445.36 crore for bad loans in December quarter up form Rs 3,253.32 crore.
The bank's gross non-performing assets as a percentage of total advances improved to 6.94 per cent versus 7.19 per cent in the previous quarter.
Larsen & Toubro, Infosys, ICICI Bank, State Bank of India, Kotak Mahindra Bank and Axis Bank were among the top movers in the Sensex.
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